April just flew by, and here we are in the second week of May already and I’m just getting to the stats from last month. It’s pretty slow out there, and if you’re looking to buy, there are definitely deals to be had. If you go by the average and median prices, it would appear that prices are fairly stable, but there has definitely been an increase in sales of cheaper properties. It’s not all bad news though – properties that are realistically priced based on market conditions are selling, sometimes very quickly. And, there are actually fewer properties on the market this year than the same time last, and there were fewer properties listed this April than last, which helps keep supply in check with demand. Let’s have a look at the numbers:
April 2011:
- New listings, all property types: 107 (65 single family dwellings)
- Sales, single family dwellings (SFD): 22
- Sales, all property types: 30
- Lowest price: a manufactured home at $10,000 (Lowest price SFD sold for $250,000)
- Highest price: $1,005,000
- Average price, SFD: $441,041
- Median price, SFD: $416,000
- Active listings, all property types: 450
- Sale price breakdown (SFD): $200K-$300K: 1 | $300K-$400K: 9 | $400K-$500K: 9 | $500K-$600K: 0 | $600K-$700K: 2 | $1M+: 1
- New listings, all property types: 87 (65 SFD)
- Sales, SFD: 16
- Sales, all property types: 23
- Lowest price: a manufactured home at $43,000 (Lowest price SFD sold for $225,000)
- Highest price: a waterfront home at $810,000
- Average price, SFD: $447,606
- Median price, SFD: $426,250
- Active listings, all property types: 411
- Sale price breakdown (SFD): $200K-$300K: 3 | $300K-$400K: 3 | $400K-$500K: 6 | $500K-600K: 1 | $600K – $700k: 2 | $800K+: 1
May seems to have kicked off a little busier – showing activity is picking up on my listings and I have one accepted offer already, but pricing remains key. If you would like an honest evaluation on where your property value sits, or if you have any questions about how I came to these numbers or what they mean, just give me a call at 250-885-0512 or send me an email
More statistics? Click here to see all posts I’ve written about stats.